Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Dermot McCarthy:
There was discussion. In fact, there were two and I think possibly three legs, if you like, to the encounter. In the first, they certainly did make, if you like, prepared presentations, if you like, of the situation as they saw it. And they were asked to develop various points, mainly by the Governor, who was engaging, and I think the Taoiseach had asked him to, in a sense, lead the reaction from the official side. And the Taoiseach and Minister, as I recall, said very little in that first phase. There was a second phase in relation to their capacity to provide liquidity support if that was required. In fact, that second phase was the asking of them to consider whether they could and I think the third phase was the response to that as a proposition.
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